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MEASURES OF CENTRAL TENDENCY

1 / 20

__________ is used when the sum of deviations from the average ignories as the signs fins should be least.

2 / 20

Which of the following is not as measure of central tendency?

3 / 20

Mode of a series is:

4 / 20

_________ is used when representation value is required & distribution is asymmetric.

5 / 20

The middle most value of a set of observations is:

6 / 20

The values of extreme items do not influence the average in case of:

7 / 20

Graphic location of mode is done with reference to:

8 / 20

In case of an even number of observations, which of the following is median?

9 / 20

Construction of a cumulative frequency table is useful in determining the .

10 / 20

Most frequent occurring value in a series is called:

11 / 20

For computing median, the values of different items given in the series should be arranged in:

12 / 20

The suitable measures of central tendency for qualitative data is:

13 / 20

The sum of absolute deviations is minimum when taken from.

14 / 20

Sum of square of the deviations about mean is:

15 / 20

Which average is affected most by the presence of extreme items?

16 / 20

Measures of central tendency are known as:

17 / 20

The median of the numbers 11, 10, 12, 13, 9 is .

18 / 20

For determination of mode, the class intervals should be .

19 / 20

A grouping table has:

20 / 20

Other name of Simple Mean is:

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MARKET EQUILIBRIUM

1 / 20

When there is increase in demand and decrease in supply, equilibrium price:

2 / 20

Suppose that the supply of cameras increases due to an increase in imports. Which of the following statements will most likely occur?

3 / 20

In monopolistic competition, which relationship is true from the following between AR and MR?

4 / 20

When both demand and supply decrease in the same proportion, then the equilibrium quantity will:

5 / 20

At a price above the equilibrium price, there is:

6 / 20

If price is above then equilibrium Price, there is:

7 / 20

Demand curve is inelastic under:

8 / 20

Equilibrium price may be determined through _________ .

9 / 20

Demand curve is perfectly elastic under:

10 / 20

Equilibrium price and output changes when:

11 / 20

When both demand and supply increase in the same proportion then equilibrium quantity will:

12 / 20

An increase in supply with demand remaining the same bring about .

13 / 20

If there is shortage of certain goods, the government introduces for distribution of commodity to consumers.

14 / 20

Demand curve is elastic under:

15 / 20

When increase in demand is more than increase in supply, then equilibrium price will:

16 / 20

The product sold by monopolist has:

17 / 20

Entry is restricted under:

18 / 20

There are only a few sellers under:

19 / 20

In perfect competition, as the firm is a price taker, the curve is a horizontal straight line.

20 / 20

If in an industry, demand and supply will not intersect in positive quadrant, then it is called:

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INDEX NUMBERS

1 / 20

The index used to measure changes in total money value is called:

2 / 20

Index number for the base period is always taken as:

3 / 20

A quantity index that is designed to measure changes in physical volume or production level of industrial goods over time is known as:

4 / 20

Whose formula is considered ideal for the construction of index number?

5 / 20

A series of numerical figures which show the relative position is called:

6 / 20

Paasche index is based on:

7 / 20

Index numbers can measure the averages of variables with ________ units:

8 / 20

Fisher’s Ideal index is the:

9 / 20

Laspayer's index is based on:

10 / 20

Index no. is equal to:

11 / 20

Cost of living index numbers are also used to find real wage by the process of:

12 / 20

The aggregate index formula using base period quantities is known as:

13 / 20

Which of the following statement is false?

14 / 20

Which of the following measures changes in retail price of the commodities?

15 / 20

Price of top 30 shares of Bombay Stock Exchange increased, which of these will increase?

16 / 20

Index number serves as a for measuring the value of money:

17 / 20

 

_________ is the benchmark index for the Indian stock market:

18 / 20

Which index measures the month to month change in cost of a representative basket of goods and services bought by a typical household?

19 / 20

Which of the following devices is used for measuring differences in the magnitude of a group of related variables?

20 / 20

Index of industrial production is a of quantitative relative:

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INTRODUCTION TO STATISTICS

1 / 25

From the given activities, which activity is called non-economic activity?

2 / 25

______________ is the process through which consumers satisfy their wants by the use of goods and services.

3 / 25

Which activity is the base of all production activities?

4 / 25

Which of the following statements is incorrect?

5 / 25

In plural sense, which of the following is not a characteristic of Statistics?

6 / 25

'Economics is a study of mankind in the ordinary business of life'. This definition of Economics is given by:

7 / 25

Which of the following statement does not hold true as one of the characteristic of statistics?

8 / 25

Universe in Statistics means:

9 / 25

In relation to the means to satisfy them, human wants are always .

10 / 25

Statistical data are used for knowing about the progress in the:

11 / 25

Which of the following is an economic activity?

12 / 25

Which economic activity deals with the use of goods and services for the satisfaction of human wants?

13 / 25

With regards to distrust of Statistics which of the following statements is not correct?

14 / 25

Which of the following is correct regarding Statistics?

15 / 25

The resources available with the given producer are:

16 / 25

The statistical study begins with collection of data and ends with:

17 / 25

Which definition was given by Adam Smith?

18 / 25

Who produces goods and services for the generation of income?

19 / 25

Statistics in a plural sense indicates:

20 / 25

In which process, raw material is converted into end products having utility?

21 / 25

"In statistics, homogeneity of data is not an essential requirement." The given statement is:

22 / 25

Statistics in singular sense includes:

  1. Collection of data.
  2. Organization of data.
  3. Presentation of data.
  4. All of the above.

23 / 25

 Statistics is the science of analyzing:

  1. Any Kind of Data.
  2. Qualitative Data.
  3. Quantitative Data.
  4. Imaginative data.

24 / 25

Statistical data are affected by ______ cause/ causes.

  1. a single.
  2. multiple.
  3. Either (1) or (2).
  4. All of these.

25 / 25

When economic facts are expressed in statistical terms they become:

  1. Vague.
  2. Exact.
  3. Convincing.
  4. Futile.

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INTRODUCTION TO MICRO-ECONOMIC

1 / 20

Price theory studies the problem of:

2 / 20

If the marginal (additional) opportunity cost is a constant, PPC would be:

3 / 20

The study of microeconomics and macroeconomics is____________ .

4 / 20

Macroeconomics deals with:

5 / 20

Who wrote ‘Nature and Causes of Wealth of Nations’?

6 / 20

Which of the following theory is a part of macroeconomics?

7 / 20

The point on production possibility curve indicates:

8 / 20

Production possibility curve (PPC) is defined as different combination of goods and services that can be produced by whom when the resources are fully employed?

9 / 20

The reason behind a rightward or outward shift of PPC could be:

10 / 20

Which of the following is an assumption of Production Possibility Frontier?

11 / 20

Capital intensive technique is chosen in a:

12 / 20

Slope of production curve is:

13 / 20

Total output of an economy is the sum of total output of individual producers. This statement proves that:

14 / 20

The problem of 'what to produce' relates to:

15 / 20

The central problem of how to produce is a problem of choice regarding:

16 / 20

Microeconomics deals with which of the following?

17 / 20

PPC is defined as different combination of goods and services that can be produced by whom, when the resources are fully employed?

18 / 20

Which one of the following options is likely to cause an inward shift in a country's PPC?

19 / 20

__________ is the problem which is concerned with the distribution of national income among those who have helped to produce it.

20 / 20

Microeconomics is not concerned with the behaviour of:

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Micro & Macro Economics

1 / 20

Which of the following constitutes the major share in India’s foreign exchange reserves? 
(A) Gold 
(B) Foreign Currency Assets 
(C) SDR at IMF 
(D) Reserve Position at IMF 

2 / 20

Which of the following given institutions founded the “Mobile Payment Forum of India”? 
(A) IIT Bombay 
(B) IIT Delhi 
(C) IIT Chennai 
(D) IIM Ahmedabad 

3 / 20

What would be the growth rate of India in the financial year (2021-22) as per SBI research?
(A) 5.4 %
(B) 7.4 %
(C) 10.4%
(D) 11.4%

4 / 20

Name the organization which publishes the Consumer Confidence Index
(A) SEBI
(B) NABARD
(C) State Bank of India
(D) RBI

5 / 20

‘The General Theory of Employment, Interest, and Money is a famous book written by which among the following?
(A) J.M. Keynes
(B) Robert Sahhlas
(C) Wassily Leontief
(D) Paul Krugman

6 / 20

What does RBC stand for?

(A) Random Business Cycle
(B) Rational Business Cycle
(C) Revolutionary Business Cycle
(D) Real Business Cycle

7 / 20

The term “National income” refers to the?

(A) total employment
(B) total unemployment
(C) global employment
(D) local employment

8 / 20

Which of the given options would be studied in a microeconomics course? 
(A) How an increase in the tax rate affects the overall performance 
(B) Comparison of inflation rates between countries 
(C) How a trade agreement between the United States and Mexico affects both nations’ unemployment rates 
(D) Impact of rental roofs on the housing supply  

9 / 20

Keynesian economics is primarily focused on
(A) national income
(B) company balance
(C) resource allocation
(D) All of the above

10 / 20

Macroeconomic issues include: 
(A) the impact of government regulation on markets 
(B) total employment nationwide  
(C) studying what factors affect the price and quantity of automobiles 
(D) studying the regulation of wages and production costs in the software industry 

11 / 20

 Macroeconomics is the branch of economics that deals with:
(A) the prices of individual goods 
(B) important rather than trivial issues 
(C) how individual markets work 
(D) the economy as a whole 

12 / 20

Which of the following given agencies has published “expected loss-based ratings”? 
(A) RBI 
(B) SEBI 
(C) PFRDA 
(D) IRDAI 

13 / 20

Which of the following explains the difference between microeconomics and macroeconomics? 
(A) microeconomics studies the impact of government taxes on the national unemployment rate 
(B) macroeconomics studies the impact of government regulation and taxes on the price of individual commodities and services while microeconomics does not 
(C)  use different sets of tools and ideas 
(D) microeconomics studies the decisions of individuals and firms and macroeconomics studies the entire  economy 

14 / 20

Microeconomics includes all of the following EXCEPT. 
(A) the effect of increasing the money supply on inflation 
(B) the purchasing decisions of an individual consumer  
(C) the effect of an increase in cigarette tax  on cigarette sales 
(D) the hiring decisions  a firm makes 

15 / 20

Which of the following is a microeconomic problem? 
(A) the reasons why average prices are falling 
(B) the reasons  Kathy is buying less orange juice 
(C) the reason why overall employment may fall 
(D) the impact of the government budget deficit on inflation

16 / 20

Which of the following is a macroeconomic problem? 

(A) What do plumbers earn more than janitors 
(B) the reasons for the increase in average prices 
(C) whether the army should buy more tanks or more missiles 
(D) the reasons for the increase in the price of orange juice 

17 / 20

Economics is the study of:

(A) the distribution of surplus goods to those in need.
(B) affluence in a morally bankrupt world.
(C) ways to reduce want to eliminate the problem of scarcity.
(D) the choices we make because of scarcity.

18 / 20

The study of determining the prices in individual markets is called…
(A) negative economics
(B) microeconomics
(C) positive economics
(D) macroeconomics

 

19 / 20

 The most fundamental economic problem is…..
(A) Security
(B) European countries buy more goods from foreigners than supply to foreigners
(C) health
(D) Scarcity

20 / 20

What does the term “Incentive” mean?
(A) It is the opposite of a tradeoff.
(B) It could be a reward but could not be a penalty.
(C) It could either be a reward or a penalty.
(D) It could be a penalty but could not be a reward.

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ECONOMICS

1 / 20

Apart from the availability of raw materials, the location of an industry also depends upon the availability of:

2 / 20

In which year International Labour Organisation (ILO) was established?

3 / 20

In which city, the headquarters of Steel Authority of India (SAIL) are situated ?

 

4 / 20

Which is the largest exported item of India?

5 / 20

In which year Dredging Corporation of India was established?

6 / 20

How many major ports are there in India?

7 / 20

What is MSF stands for?

8 / 20

What is the difference between repo and reverse repo?

9 / 20

What is the FDI allowed in duty-free shops under the automatic route?

10 / 20

Which industry is known as “Child of protection”?

11 / 20

Which is the top imported commodity of India in terms of value in the Gems and jewelry sector in 2019?

12 / 20

Which is the largest 2 wheeler manufacturing company in the world?

13 / 20

What is the GST percentage on Electric vehicles?

14 / 20

What is an agglomeration economy?

15 / 20

What is the contribution of Animal husbandry to Indian GDP?

16 / 20

What is re-harvesting known as?

17 / 20

Which Indian law bans the usage of GM seeds without approval?

18 / 20

Which color certificate is issued for a registered seed?

19 / 20

During which five-year plan the Private sector was given priority over the public sector?

20 / 20

What does a good with positive externalities known as?

 

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COLLECTION OF DATA

1 / 20

____________ method of investigation is suitable only when the respondents are educated.

2 / 20

In __________ method the investigator appoints local agents or correspondents in different areas of enquiry.

3 / 20

_________ is used when the researcher has access to all the members.

4 / 20

Which type of questions should not be there in a questionnaire?

5 / 20

The last census of India was conducted in the year

6 / 20

Vardaan wants to find the average height of 4 of his friends. Which source of data collection would be suitable for him?

7 / 20

Statistical units should be based on data.

8 / 20

Which data is collected by the investigator himself?

9 / 20

If the investigator wants to select a sample on the basis of diverse characteristics of the population, which method should he use?

10 / 20

Personal bias is possible under:

11 / 20

Reliability of sampling data depends on:

12 / 20

'Sarvekshana', the quarterly journal is published by:

13 / 20

Which of the following factor(s) are considered when comparison between sampling and census method is made?

14 / 20

In ________ method of primary data collection, the investigator can make necessary adjustment in his set of questions.

15 / 20

Under random sampling, each item of the universe has ________ chance of being selected.

16 / 20

Which method of collection of data covers the widest area?

17 / 20

_________ refers to the difference between the actual value of a parameter of the population and its estimate.

18 / 20

The first census of independent India was conducted in the year.

19 / 20

A survey in which information is collected from each and every unit of the population is known as:

20 / 20

Which survey is a try-out with a small group that is done to assess the suitability of questions, clarity of instructions and cost and time involved in actual survey?

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CORRELATION

1 / 21

Correlation is an analysis of _________ between two or more variables:

2 / 21

Rank correlation is a superior method of analysis in case of _______ distribution.

3 / 21

In a ‘negative’ relationship:

4 / 21

Which correlation coefficient indicates strongest relationship?

5 / 21

When the variable cannot be measured precisely:

6 / 21

________ is a graphical method of studying correlation:

7 / 21

Which of the following techniques deals with the association between two or more variables?

8 / 21

When the relation of three or more variables is studied simultaneously, it is called:

9 / 21

The coefficient of correlation is independent of: